![]() ![]() In October 2018, Binance Uganda launched as the first fiat-to-cryptocurrency exchange of Binance. The idea of stablecoins is to provide a cryptocurrency without the notorious volatility of Bitcoin and other popular digital assets. In August 2018, Binance along with three other big exchanges raised $32 million for a stablecoin project. In 2019, the company announced Binance Jersey, an independent entity from its parent exchange, to expand its European influence. Jersey-based exchange offers fiat-to-cryptocurrency pairs, including the Euro and the British pound. Months later, a similar memorandum was signed with the Malta Stock Exchange to develop a platform for trading security tokens. Binance also signed a Memorandum of Understanding (MoU) with the Government of Bermuda. Ever since then, Binance has been the largest cryptocurrency exchange in the world in terms of the trading volume. In April 2018, Binance launched its blockchain (Binance Chain) with the sole aim of creating a high-speed blockchain able to support large transactions at a lower cost compared to the Ethereum blockchain. In March 2018, Binance announced its intentions to open an office in Malta after stricter regulations in Japan and China. ![]() As of January 2018, it was the largest crypto exchange with a BNB market capitalization of $1.3 billion. In July 2017, Binance raised a total of $15 million in Bitcoin (BTC) and Ethereum during the sale of its native token in an ICO. The company was founded in China but moved its servers and headquarters out of China and into Japan in advance of the Chinese government's ban on cryptocurrency trading in September 2017. By March 2018 the company had established offices in Taiwan. He also worked at OKCoin as CTO for less than a year, a platform for spot trading between fiat and digital assets. In 2013 he joined as the third cryptocurrency wallet team member. ![]() History 2017 - 2018ĬEO Changpeng Zhao had previously founded Fusion Systems in 2005 in Shanghai the company built high-frequency trading systems for brokers. The platform also offers its users a suite of products for users to grow their crypto holdings by earning, which includes Binance Earn, Simple Earn, Defi Staking, Liquidity Farming, Dual Investment, Auto-Invest, and many more. The Binance Smart Chain was created to support Smart contracts, allowing its users to create DApps, tokens, and mint NFTs on the blockchain.īinance sees itself as a vibrant global community powered by Binance users from all walks of life, who come together both in real life and online to pursue their passions and advance the crypto cause. In September 2020, Binance launched the Binance Smart Chain in parallel to the Binance Chain. The Binance platform offers cryptocurrency products and services, including trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more, also supporting over 40 different languages. The name Binance is a mashup of the words ‘binary’ and ‘finance’. It is considered to be the largest crypto exchange by total trading volume and offers its users basic and advanced trading including Spot, Futures, and Margin Trading. Overviewįounded in 2017 and based in Malta, Binance is a centralized global cryptocurrency exchange that allows users to buy, sell, deposit, and transfer over 350+ cryptocurrencies. The app is available for both IOS and Android devices. īinance users can trade on the platform using computers and mobile devices. It was founded by Changpeng Zhao and Yi He in 2017 and was registered in the Cayman Islands. The platform allows its users to buy, sell, deposit, transfer, and store over 350+ cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ethereum Classic, Polygon, Avalanche, Dogecoin, and BNB. Binance is the largest cryptocurrency exchange by daily trading volume. ![]()
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